By Ron Shinkman, Editor, Laboratory Industry Report
New Jersey-based Rosetta Genomics has closed a deal to acquire CynoGen, Inc., which does business as PersonalizeDx, for $3.9 million in cash and stock.
Rosetta acquired PersonalizeDx from California-based Prelude Corp., which had acquired PersonalizeDx from a third party a short time ago.
As part of the deal, Rosetta will gain rights to PersonalizeDx’s assay for in situ ductal carcinoma. Rosetta specializes in molecular cancer tests, particularly for kidney cancer.
“The PersonalizeDx business is an excellent strategic and cultural fit, and we look forward to combining their assays and biomarkers with our current and future microRNA-based and other assays,” said Rosetta Chief Executive Officer Kenneth A. Berlin in a press release.
Rosetta said it would use the acquisition to leverage the launch of a thyroid assay later this year, enhance a lung cancer test through the use of PersonalizeDx’s FISH platform, and create new products under the PersonalizeDx brand. Altogether, Rosetta said it plans to launch five new tests over the next year.
Rosetta also released guidance for 2015. The company projected revenue in the range of $10 to $12 million for this calendar year, and $18 million in 2016. Rosetta’s 2014 revenue was $1.3 million, up from $405,000 in 2013.